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OAKTREE CAPITAL MANAGEMENT LP

Q4 2025 · Filed 2026-02-17
Market Value
$3.6B
-13.3%
Holdings
51
-5
New Purchases
2
Added To
6
Closed
6
Reduced
20
Top 10 Concentration
65.5%
Turnover
15.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EXE 15.41% 12.85% +2.55% $559M
NOK 3.35% 2.16% +1.19% $121M
B 3.57% 2.59% +0.99% $130M
VNOM 6.70% 5.74% +0.95% $243M
TDS 4.17% 3.46% +0.71% $151M
CORZ 3.35% 2.74% +0.61% $122M
XP 1.50% 0.91% +0.59% $54M
ECVT 1.14% 0.60% +0.54% $41M
INFY 0.54% 0.00% +0.54% $20M
FCX 1.95% 1.41% +0.54% $71M
ITUB 2.73% 2.22% +0.51% $99M
ONIT 0.49% 0.00% +0.49% $18M
TLN 3.42% 2.96% +0.46% $124M
BLCO 1.59% 1.17% +0.42% $58M
CBL 2.57% 2.20% +0.37% $93M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TRMD 14.54% 19.95% -5.41% $527M
GTX 8.22% 10.38% -2.17% $298M
SATS 0.00% 1.10% -1.10% $0
STKL 2.18% 2.90% -0.73% $79M
NBR 0.00% 0.72% -0.72% $0
SE 0.00% 0.60% -0.60% $0
VIST 1.05% 1.51% -0.46% $38M
CX 1.82% 2.25% -0.42% $66M
RWAY 1.73% 2.01% -0.28% $63M
ALVO 0.06% 0.31% -0.25% $2M
GRAB 1.54% 1.74% -0.20% $56M
LILAK 1.18% 1.35% -0.16% $43M
YMM 1.04% 1.18% -0.14% $38M
LGN 0.00% 0.13% -0.13% $0
ATUS 0.34% 0.43% -0.09% $12M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 16 $1.6B 44.2%
Mid Cap 19 $1.6B 45.1%
Small Cap 8 $277M 7.6%
Micro Cap 8 $110M 3.0%

Portfolio Analytics

Avg Market Cap
$18.9B
Median Market Cap
$5.7B
Avg P/E
20.1
Median P/E
15.5
Avg Dividend Yield
0.03%
Avg Beta
0.93
# Stocks
51
# ETFs / Funds
0

Top Holdings (51 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 EXE 15.41% 5,062,363 $559M $110.36 $21M
2 TRMD 14.54% 26,425,059 $527M $19.95 -$307M -14,156,061 -34.9%
3 GTX 8.22% 17,094,816 $298M $17.43 -$136M -14,800,000 -46.4%
4 VNOM 6.70% 6,285,062 $243M $38.63 $3M
5 TDS 4.17% 3,688,386 $151M $41.00 $6M
6 B 3.57% 2,975,118 $130M $43.55 $21M -326,968 -9.9%
7 TLN 3.42% 331,117 $124M $374.84 $281K +40,000 +13.7%
8 CORZ 3.35% 8,350,708 $122M $14.56 $7M +1,950,000 +30.5%
9 NOK 3.35% 18,752,229 $121M $6.47 $31M
10 ITUB 2.73% 13,822,747 $99M $7.16 $6M +1,156,946 +9.1%
11 CBL 2.57% 2,517,576 $93M $37.00 $1M -487,550 -16.2%
12 TAC 2.24% 6,415,253 $81M $12.66 -$6M
13 STKL 2.18% 20,726,126 $79M $3.81 -$43M
14 NU 2.07% 4,479,175 $75M $16.74 $3M -39,709 -0.9%
15 FCX 1.95% 1,390,053 $71M $50.79 $12M -114,812 -7.6%
16 KRC 1.91% 1,850,011 $69M $37.37 -$9M
17 CX 1.82% 5,749,324 $66M $11.49 -$28M -4,699,500 -45.0%
18 RWAY 1.73% 7,029,667 $63M $8.93 -$21M -1,250,000 -15.1%
19 BLCO 1.59% 3,382,739 $58M $17.08 $9M +137,300 +4.2%
20 GRAB 1.54% 11,207,699 $56M $4.99 -$17M -886,796 -7.3%
21 XP 1.50% 3,320,159 $54M $16.37 $16M +1,287,282 +63.3%
22 LILAK 1.18% 5,748,780 $43M $7.46 -$13M -921,043 -13.8%
23 ECVT 1.14% 4,254,503 $41M $9.73 $16M +1,395,481 +48.8%
24 USM 1.07% 724,444 $39M $53.62 $3M
25 VIST 1.05% 782,250 $38M $48.66 -$25M -1,059,069 -57.5%
26 YMM 1.04% 3,519,764 $38M $10.73 -$11M -277,933 -7.3%
27 SBLK 1.04% 1,962,892 $38M $19.22 $1M
28 CRC 0.86% 694,502 $31M $44.71 -$6M
29 BZ 0.86% 1,523,231 $31M $20.38 -$7M -120,341 -7.3%
30 TEO 0.75% 2,347,508 $27M $11.61 $8M -281,975 -10.7%
31 VALE 0.73% 2,023,706 $26M $13.03 $4M -10,000 -0.5%
32 TX 0.69% 658,565 $25M $38.19 -$6M -238,944 -26.6%
33 INFY 0.54% 1,094,752 $20M $17.82 +1,094,752 NEW
34 ONIT 0.49% 390,835 $18M $45.79 +390,835 NEW
35 SMRT 0.42% 7,505,294 $15M $2.02 $5M
36 ATUS 0.34% 7,500,000 $12M $1.65 -$6M
37 EXEEL 0.26% 95,294 $9M $99.65 $280K
38 BHC 0.24% 1,270,000 $9M $6.95 $635K
39 MX 0.20% 2,849,858 $7M $2.55 -$2M
40 LILA 0.17% 839,020 $6M $7.39 -$817K -7,454 -0.9%
41 HDB 0.13% 130,441 $5M $36.54 -$399K -20,765 -13.7%
42 BATL 0.09% 3,009,912 $3M $1.13 -$246K -3,911 -0.1%
43 ALVOW 0.08% 4,666,667 $3M $0.65 -$4M
44 ALVO 0.06% 533,656 $2M $3.79 -$11M -1,030,020 -65.9%
45 BTAI 0.01% 241,188 $386K $1.60 -$232K
46 TGS —% -$1M -56,522 -100.0% SOLD
47 NBR —% -$30M -737,112 -100.0% SOLD
48 SE —% -$25M -141,368 -100.0% SOLD
49 SATS —% -$46M -600,000 -100.0% SOLD
50 TPIC —% -$143K -4,610,003 -100.0% SOLD
51 LGN —% -$5M -175,000 -100.0% SOLD

Options Breakdown

2 Calls $142M Call Value 6 Puts $718M Put Value 5.07 P/C Ratio

Top Calls

SymbolSharesValueStatus
TLN 300,000 $112M
CORZ 2,000,000 $29M NEW

Top Puts

SymbolSharesValueStatus
SMH 865,000 $312M NEW
SPY 385,000 $263M
ORCL 500,000 $97M
MAR 150,000 $47M
WING $0 SOLD
IWM $0 SOLD

New Positions

SymbolValue% Port
INFY $20M 0.54%
ONIT $18M 0.49%

Sold Out Positions

SymbolValue% Port
SE —%
TGS —%
NBR —%
LGN —%
SATS —%
TPIC —%
View SEC EDGAR Filings for OAKTREE CAPITAL MANAGEMENT LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms